Intel (INTC) shares surged Friday as President Donald Trump said the struggling chipmaker agreed to allow the U.S. government to take a 10% stake.
At a press gathering in the Oval Office announcing the World Cup draw, Trump said of Intel, “they’ve agreed to do it, and I think it’s a great deal for them.”
Citing people familiar with the matter, Bloomberg reported earlier Friday that the Trump administration and Intel were set to announce details today of an agreement that would see the U.S. take a stake in the company. The news outlet said that although details weren’t clear, “Talks had focused on converting grants under the Chips and Science Act into an equity stake of about 10% for the government.”
Bloomberg noted that the U.S. taking a stake in the once-storied chipmaker would mark a noteworthy departure from the practice of the government only stepping in during times of extreme stress. Intel declined to comment.
Intel shares were up over 6% in recent trading, amid a broader market rally. With Friday’s gains, the stock has added a quarter of its value in 2025.
This article has been updated since it was first published to reflect more recent developments and share price values.